DINAPOLI FREEZES PENSION FUND INVESTMENTS IN FIREARM MAKERS

     (The following press release from the New York State Comptroller's Office 
was received by e-mail and was reformatted. The sender verified the statement.) 
NEWS
From the Office of the New York State Comptroller
Thomas P. DiNapoli 
For release: January 15, 2013 
DiNAPOLI FREEZES PENSION FUND INVESTMENTS IN COMMERCIAL FIREARM 
MANUFACTURERS 
New York State Comptroller Thomas P. DiNapoli announced today that the New
York State Common Retirement Fund (Fund) will freeze its investments in
publicly-traded commercial firearm manufacturers. 
“The New York State Common Retirement Fund will not buy stock in companies
whose primary business is manufacturing firearms for commercial sale,”
DiNapoli said.  “After the terrible events in Newtown, it is clear that the
national movement toward greater regulation of firearms manufacturers will
impose significant reputational, regulatory and statutory hurdles that may
affect shareholder value. As the fiduciary of the Fund, it is my obligation
to protect and grow Fund assets and we will continue to monitor the
economic and regulatory environment before taking any additional steps.” 
The freeze impacts the Fund’s holdings in an index fund of 45,325 shares of
Sturm, Ruger and Company valued at approximately $2,174,000. The Fund’s
holdings in Smith and Wesson Holding Corporation were sold by an outside
manager in their entirety on December 18, 2012. The Fund does not hold any
other public companies whose primary source of revenue is commercial
firearms manufacturing.  The freeze will be in place for an indefinite
period of time. 
DiNapoli, acting on the recommendation of the Fund’s Chief Investment
Officer Vicki Fuller and after consulting outside fiduciary counsel, has
directed the Fund to not purchase any additional shares of Sturm, Ruger and
Company. This freeze applies to both actively-managed as well as indexed
investments. 
Follow us on Twitter: @NYSComptroller 
Contact: Eric Sumberg, 212-681-4840 
(kgt)NY 
 
 
Press spacebar to pause and continue. Press esc to stop.